The RBI has been prompting banks to push lending by cutting its key policy rate by 75 basis points to an 11-year low of 4.4 per cent. Besides, it also slashed reverse repurchase rate, a tool to control the money supply, to 3.75 per cent to encourage banks to deploy surplus funds within the system towards lending.
source https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-governor-to-hold-meeting-with-bank-chiefs-on-saturday/articleshow/75494166.cms
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